Mieke Dierckx: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Mieke Dierckx
Largest movements
- Cash -€307,137
down €307,137 (-95.5%), from €321,706 to €14,569
mainly Receivables within one year (-€296,243) and Contributions, distributions and other (-€250,000)
- Receivables within one year +€296,243
new in 2025: €296,243
of which Other amounts receivable: +€259,046
- Stocks and contracts +€97,608
up €97,608 (+37.8%), from €258,460 to €356,067
- Tangible fixed assets +€25,943
up €25,943 (+57.4%), from €45,179 to €71,122
of which Furniture and vehicles: +€26,458
- Other debts +€322,210
up €322,210 (+412%), from €78,198 to €400,408
- Reserves -€128,843
down €128,843 (-30.6%), from €420,737 to €291,894
- Tax, wage and social debts -€42,319
down €42,319 (-38.4%), from €110,093 to €67,774
of which Taxes: -€45,210
- Trade debts -€33,593
down €33,593 (-89.1%), from €37,686 to €4,093
- Staff costs +€16,353
up €16,353 (+17.9%), from €91,317 to €107,671
- Gross operating margin +€9,948
up €9,948 (+3.4%), from €295,652 to €305,599
- Financial charges -€5,396
down €5,396 (-67.4%), from €8,005 to €2,609
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €651,714 | €769,169 | +€117,455 | +18.0% |
| Fixed assets | 21/28 | €58,469 | €84,412 | +€25,943 | +44.4% |
| Tangible fixed assets | 22/27 | €45,179 | €71,122 | +€25,943 | +57.4% |
| Plant, machinery and equipment | 23 | €1,620 | €1,105 | -€515 | -31.8% |
| Furniture and vehicles | 24 | €43,559 | €70,017 | +€26,458 | +60.7% |
| Financial fixed assets | 28 | €13,290 | €13,290 | = | 0.0% |
| Current assets | 29/58 | €593,245 | €684,757 | +€91,512 | +15.4% |
| Stocks and contracts in progress | 3 | €258,460 | €356,067 | +€97,608 | +37.8% |
| Stocks | 30/36 | €258,460 | €356,067 | +€97,608 | +37.8% |
| Amounts receivable within one year | 40/41 | - | €296,243 | +€296,243 | |
| Trade receivables | 40 | - | €37,197 | +€37,197 | |
| Other amounts receivable | 41 | - | €259,046 | +€259,046 | |
| Cash at bank and in hand | 54/58 | €321,706 | €14,569 | -€307,137 | -95.5% |
| Deferred charges and accrued income | 490/1 | €13,079 | €17,878 | +€4,798 | +36.7% |
| Total equity and liabilities | 10/49 | €651,714 | €769,169 | +€117,455 | +18.0% |
| Equity | 10/15 | €425,737 | €296,894 | -€128,843 | -30.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €420,737 | €291,894 | -€128,843 | -30.6% |
| Distributable reserves | 133 | €420,737 | €291,894 | -€128,843 | -30.6% |
| Amounts payable | 17/49 | €225,977 | €472,275 | +€246,298 | +109% |
| Amounts payable within one year | 42/48 | €225,977 | €472,275 | +€246,298 | +109% |
| Trade debts | 44 | €37,686 | €4,093 | -€33,593 | -89.1% |
| Suppliers | 440/4 | €37,686 | €4,093 | -€33,593 | -89.1% |
| Taxes, remuneration and social security | 45 | €110,093 | €67,774 | -€42,319 | -38.4% |
| Taxes | 450/3 | €95,388 | €50,179 | -€45,210 | -47.4% |
| Remuneration and social security | 454/9 | €14,705 | €17,596 | +€2,891 | +19.7% |
| Other amounts payable | 47/48 | €78,198 | €400,408 | +€322,210 | +412% |
| Non-recurring operating income | 76A | €5,273 | €1,555 | -€3,718 | -70.5% |
| Remuneration, social security and pensions | 62 | €91,317 | €107,671 | +€16,353 | +17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,458 | €23,367 | +€908 | +4.0% |
| Other operating charges | 640/8 | €4,364 | €4,267 | -€97 | -2.2% |
| Gross operating margin | 9900 | €295,652 | €305,599 | +€9,948 | +3.4% |
| Operating profit (loss) | 9901 | €177,512 | €170,295 | -€7,217 | -4.1% |
| Financial income | 75/76B | €78 | €467 | +€389 | +495% |
| Recurring financial income | 75 | €78 | €467 | +€389 | +495% |
| Financial charges | 65/66B | €8,005 | €2,609 | -€5,396 | -67.4% |
| Recurring financial charges | 65 | €8,005 | €2,609 | -€5,396 | -67.4% |
| Profit (loss) for the period before taxes | 9903 | €169,586 | €168,154 | -€1,432 | -0.8% |
| Income taxes | 67/77 | €46,638 | €46,997 | +€359 | +0.8% |
| Profit (loss) for the period | 9904 | €122,948 | €121,157 | -€1,791 | -1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €122,948 | €121,157 | -€1,791 | -1.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.